World - Global Orthopedic Orthotics Market to Reach US$5.2 Billion by 2017

GIA announces the release of a comprehensive global report on Orthopedic Orthotics markets. The global market for Orthopedic Orthotics is projected to reach US$5.2 billion by the year 2017.

Compelling growth drivers include a growing proportion of the elderly population, increasingly active lifestyles, and product innovations.

Banking upon the growing consolidation of the industry’s endeavors, together with availability of advanced manufacturing techniques, orthotics industry has of late emerged out of the purview of cottage industry with restricted scope of operations, into a broad-based mainstream manufacturing sector, simultaneously offering an individualized approach towards the design of the product. The industry has traversed a long evolutionary path since its inception, in terms of technology, material science and target pool.

Today orthotic products address a wider patient pool ranging from aged populace suffering from debilitating diseases such as osteoarthritis, injured sports persons, to people with minor musculoskeletal deformities and dysfunctions eyeing dynamic lifestyles. In addition, the advent of minimally invasive implant surgeries is casting a cascading effect on the orthotics market, in terms of rising volumes of rehabilitative orthotics.

Further, significant improvements in material and modeling technologies have eased the task of customizing and standardizing specifications of orthotic devices, extended the lifespan of products, enhanced the pliability of braces in accordance with the requirements of consumer, and upstaged product innovations that uniquely address the discomfort of users requiring extreme performance levels.

Currently, orthotic devices are being made more durable, effective and lightweight through advanced graphite and carbon fiber materials. Moreover, products are turning more sports-specific with specialized devices for individual sports. Growth in the market however remains challenged by uncertain economic environment and low improvement in employment levels.

Besides flat Medicare pricing and cuts in Medicaid reimbursement are expected to impact growth in the market. Pricing pressure continues to affect the margins of orthotic product manufactures. Primary reasons for this include reforms in the healthcare sector and tighter budgets.

As stated by the new market research report on Orthopedic Orthotics, the US continues to remain the largest regional market. Asia Pacific is poised to register the fastest compounded annual growth rate over the analysis period. Segment-wise, Orthopedic Support Devices constitute the largest segment in the global Orthopedic Orthotics market.

Orthotic Braces represents the faster growing segment. Growing incidence of injuries as a result of an active aging population is one of the major factors spurring non-operative use of orthopedic braces and supports. Growth in the braces segment is also spurred by repetitive stress injuries and increasing number of implant surgeries.

Major players profiled in the report include Biomet Inc., Bledsoe Brace Systems, BSN Medical Gmbh & Co., KG, DeRoyal Industries, DJO Global, Orthofix International NV, Ossur hf., and Zimmer Holdings Inc.

The research report titled "Orthopedic Orthotics: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide.

The report provides market estimates and projections (US$ Million) across global and major geographic markets including US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key segments and sub-segments analyzed include Orthopedic Braces (Knee Braces, Ankle Braces and Others) and Orthopedic Support Devices.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Orthopedic_Orthotics_Market_Report.asp

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